asked
I am looking to retire and need to find out the exact amount of taxes on my Social Security and pension to see if I can move forward with retirement applications. I am currently 69, located in Vineland, New Jersey, and have no dependents. My typical filing status is single (divorced). Last year, I made a little over $90,000, and my estimated pension is $39,835.80. My estimated Social Security when I turn 70 is between $3,100 - $3,400 a month. Combined, this just about covers living expenses without taxes. I will have no other income besides Social Security and Pension. How much will be taken out of my Social Security and Pension for taxes each year, and will this amount remain the same every year? If I substitute teach after retirement, how would that be taxed?
February 22nd, 2023
I have three tax return checks made out incorrectly with the name JENNA-LOY DELGADO or JENNA DELGADO. I need an application to cash them. My husband passed away on July 24, 2020. How can I resolve this issue with the IRS?
January 15th, 2024
How can I apply for an ITIN for my mother, whose Green Card is currently under process?
August 24th, 2023
I have an amended 1099 with a realized long-term gain of $1852.00, but my 1040-X indicates an adjusted gross income net change of $3389. I am using TurboTax software. Why is my correct adjusted income more than $1852, and what could be causing this discrepancy?
March 14th, 2023
Fidelity issued an unexpected automatic RMD before I had a chance to do it myself, resulting in underwithheld taxes. I could pay the extra in my next estimated tax payment, but that would mean uneven estimated payments. Would that potentially result in a penalty? Could any penalty be avoided if I put in enough to amount to 110% of last year's taxes? If that won't work, could I have Fidelity make another distribution and put it all into tax payment?
April 24th, 2024
My brother-in-law died on November 23rd. Is the retirement benefit check he received in November for his October benefit? Does my sister have to return the November payment?
February 7th, 2024